Customers who visit retail sites for holiday shopping are looking for bargains, personalized offers and speedy service. Retailers who meet those demands have a good chance of ringing in the New Year with holiday profits. But retailers who experience a data breach can expect consumers to leave lumps of coal in their stockings. Liaison’s tokenization microservice on the award-winning Liaison ALLOY™ Platform can help retailers keep things merry and bright during the holiday shopping season.
With news of data breaches at big box retailers and online shopping hubs alike, consumers are extra-wary about their sensitive financial and personal information falling into the wrong hands. Retailers who leave classic encryption tools behind in favor of a tokenization approach are in a better position to reassure consumers about shopping safety. Tokenization allows retailers to substitute a confidential data element like a credit card number with a non-sensitive equivalent that is unique but useless if compromised.
TaaS on ALLOY is also much speedier, accelerating transactions by more than 625% and improving scalability for more rapid, secure processing of greater data volumes. This addresses the speed and personalization aspects of the consumer shopping experience. Because TaaS is offered on a big data framework via ALLOY, it can handle huge workloads for retailers. And because it’s backed by big data muscle, it can manage tokenization processes much more quickly.
Another advantage retailers who use the ALLOY tokenization microservice enjoy is an added layer of security with offsite vault storage. A vault storage solution provides a way to access data for backup and recovery purposes. Most tokenization service providers use databases that don’t feature a vault, so they are more vulnerable to security breaches. But with a vaulted solution, retailers can process and store huge amounts of data from multiple sources.
ALLOY’s tokenization microservice also helps relieve retailers of the PCI burden for online ordering and shipping processes. Retailers don’t have to store credit card data in their systems because they can store a token for quick retrieval from the vault. This also protects customer data by restricting access to users with the correct authorization and authentication.
ALLOY’s tokenization microservice can help retailers keep holiday shoppers happy with fast, personalized service that is also highly secure. That’s the way to ring in more sales this season. Learn more about how the Liaison ALLOY Platform can help retailers supercharge seasonal shopping here.